5 International BANKS latest Interest Rate comlacompa between the BANKS.
Tax-saving fixed deposits (FDs) are among the savings options that offer income tax benefits under Section 80C . Normally, tax saver deposits are of two types— ‘Single holder type deposits’ and ‘Joint holder type deposits’. In case of a joint account, tax benefit will be availed by first holder of the deposit as per the Income Tax Act, 1961. An investor can claim deduction up to Rs 1.5 lakh by investing in tax-saving FDs. To save tax, many prefer this investment as they are considered to be less risky compared to equities.
Recently, many banks, including SBI, PNB, HDFC Bank and ICICI Bank, have hiked their fixed deposit rates, including those on tax-saving FDs. These tax-saving FDs have a lock-in period of five years. This means that partial/premature withdrawal from tax-saving FDs is not permitted before the lock-in period of five years. The minimum investment amount can vary from bank to bank.
An investor can open an SBI tax-saving FD with a minimum deposit of Rs 1,000. Currently, SBI is offering 6.85% interest rate on tax-saving FDs of maturity between 5 years and 10 years.
HDFC Bank tax-saving FDs
HDFC Bank allows opening of tax-saving deposits with a minimum amount of Rs 100. HDFC Bank offers fixed deposits of maturity of up to 10 years. The bank is offering interest rate of 6.5% on tax-saving FDs
ICICI Bank tax-saving FDs
The minimum amount required for opening an ICICI Bank tax-saver FD is Rs 10,000. ICICI Bank offers interest rate of 7.25% on five-year tax-saver FDs.
Axis Bank tax-saving FDs
An Axis Bank tax-saving FD account can be opened with a minimum amount of Rs 100. The Axis Bank tax-saver FD has a term of 5 years, and for FDs with maturity between 5 and 10 years, the bank offers an interest rate of 7%.
PNB tax-saving FDs
The minimum amount required for opening PNB tax-saver FD account is Rs 100. PNB offers interest rate of 6.25% on five-year tax-saver FDs.
Tax-saving fixed deposits (FDs) are among the savings options that offer income tax benefits under Section 80C . Normally, tax saver deposits are of two types— ‘Single holder type deposits’ and ‘Joint holder type deposits’. In case of a joint account, tax benefit will be availed by first holder of the deposit as per the Income Tax Act, 1961. An investor can claim deduction up to Rs 1.5 lakh by investing in tax-saving FDs. To save tax, many prefer this investment as they are considered to be less risky compared to equities.
Recently, many banks, including SBI, PNB, HDFC Bank and ICICI Bank, have hiked their fixed deposit rates, including those on tax-saving FDs. These tax-saving FDs have a lock-in period of five years. This means that partial/premature withdrawal from tax-saving FDs is not permitted before the lock-in period of five years. The minimum investment amount can vary from bank to bank.
An investor can open an SBI tax-saving FD with a minimum deposit of Rs 1,000. Currently, SBI is offering 6.85% interest rate on tax-saving FDs of maturity between 5 years and 10 years.
HDFC Bank tax-saving FDs
HDFC Bank allows opening of tax-saving deposits with a minimum amount of Rs 100. HDFC Bank offers fixed deposits of maturity of up to 10 years. The bank is offering interest rate of 6.5% on tax-saving FDs
ICICI Bank tax-saving FDs
The minimum amount required for opening an ICICI Bank tax-saver FD is Rs 10,000. ICICI Bank offers interest rate of 7.25% on five-year tax-saver FDs.
Axis Bank tax-saving FDs
An Axis Bank tax-saving FD account can be opened with a minimum amount of Rs 100. The Axis Bank tax-saver FD has a term of 5 years, and for FDs with maturity between 5 and 10 years, the bank offers an interest rate of 7%.
PNB tax-saving FDs
The minimum amount required for opening PNB tax-saver FD account is Rs 100. PNB offers interest rate of 6.25% on five-year tax-saver FDs.
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